By Jane Han
Staff Reporter
Mid-30s homemaker Han Kyu-in says the biggest spender in her three-member household is neither her working husband nor herself, but their seven-year-old daughter Hyo-rim.
``From kindergarten tuition, art and piano lesson fees to buying toys, clothes and food _ the list goes on,'' said Han, adding that the total easily amounts to more than 1.5 million won a month. ``But I'm not complaining since my husband and I aren't expecting to have any more kids. We'll give her everything she needs.''
While Han and her husband may be pointed at as kid-spoiling parents in the past, they've become a common mom and dad figure of today, as parenting focuses on just one child due to the persistent low birth rate.
Although the lavish upbringing may foster bratty girls and boys _ mostly between the ages of three and 13 _ the local children's goods-related businesses say the snobbier, the better.
``It would be a mistake to think kids of today are the same as yesterday,'' said the Korea Toy Industry Cooperative (KTIC) spokesman Kim Min-seok. ``They don't just hug and play with anything now. They want quality, just like adults.''
About 120 toy companies are members of the KTIC and Kim said the overall business has been seeing an upward curve over the years.
He said the local toy industry has matured and sophisticated recently, pushed by children and their parents' demand for better and pricier merchandise.
Although toys and games were traditionally the main items relevant to children before, restaurants, hair salons, dental clinics and photo studios are some of the many new businesses offering specialized services ``just for kids'' (JFK).
``JFK industries see ongoing growth because Korean parents are known to spoil their children with the very best,'' said marketing consultant Lee Hyo-taek. ``It's not only services, but some of the price tags on readymade goods are crazy.''
A best-selling stroller at Lotte Department Store costs almost 500,000 won, while a baby bed is priced at more than 1.2 million won.
While parents do a significant amount of spending for their kids, some say youngsters now have a grip on money themselves.
A recent survey of elementary students showed that 65 percent of them buy their own necessities, including snacks and school supplies, implying that kids have the power to push a business up or down.
TV media group On-Media in March discontinued one of its children's channel Qwiny, as a result of a drop in viewers from 20.2 percent to 17.3 percent over two months, according to AGB Neilsen Media Research.
``Qwiny used to rank in the top 10 of overall cable TV ratings, so we admit that its shutdown left a hole,'' said Ahn Mi-hyun of On-Media. ``But we still have Tooniverse, which is our strongest children's channel.''
She said Tooniverse ranks either first or second _ competing with drama channels _ demonstrating that children definitely have a major impact on the TV business.
The fantasy-action film D-War, which raked in more than $44 million and 7 million viewers, is also said to owe its success to young moviegoers.
``Businesses related to children seem bright,'' said Kim. ``If not abused, it may be better in the long run if girls and boys learn how to use money wisely at a young age.''